Form 4: Liberty Latin America Director Acquires Shares Under Incentive Plan

Director Paul A. Gould acquired Class A and Class C common shares of Liberty Latin America Ltd. on March 31, 2024, as part of the company's Nonemployee Director Incentive Plan.

Summary

• On March 31, 2024, Paul A. Gould, a director of Liberty Latin America Ltd., acquired 233 Class A Common Shares at $6.97 per share and 465 Class C Common Shares at $6.99 per share.
• These shares were acquired under the terms of the Liberty Latin America 2018 Nonemployee Director Incentive Plan as equity compensation for his services as a director.
• The number of shares was determined using the closing market price of the applicable class of common shares on March 28, 2024.
• Following the transaction, Gould directly owns 335,051 Class A Common Shares and 446,381 Class C Common Shares.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. It reflects a routine transaction under an existing incentive plan, indicating alignment between the director and the company's shareholders.

Positives

• The acquisition of shares by a director demonstrates alignment with shareholder interests.
• The equity portion of director fees incentivizes long-term value creation.

Industry Context

Director share acquisitions are common in publicly traded companies as a way to align the interests of management and shareholders. Incentive plans like the one used by Liberty Latin America are a standard practice for compensating non-employee directors.

Comparison to Industry Standards

• Director compensation packages often include equity to align interests with shareholders, similar to practices at companies like Charter Communications and Altice USA, which also operate in the cable and telecommunications sectors.
• The use of a non-employee director incentive plan is a standard practice comparable to those used by peers in the media and telecommunications industry.

Related Party Transactions

• The acquisition of shares by the director under the incentive plan constitutes a related party transaction.

Stakeholder Impact

• The share acquisition signals confidence in the company's future, which can positively impact shareholder sentiment.
• The incentive plan aligns the director's interests with those of the shareholders, potentially leading to better governance and decision-making.

Key Dates